Evergy, Inc. (NYSE:EVRG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Evergy, Inc. (NYSE:EVRG) by 63.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,247 shares of the company’s stock after selling 162,637 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Evergy were worth $4,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Red Tortoise LLC raised its holdings in Evergy by 793.5% during the first quarter. Red Tortoise LLC now owns 411 shares of the company’s stock worth $25,000 after purchasing an additional 365 shares in the last quarter. Clear Street Markets LLC increased its holdings in shares of Evergy by 92.7% in the 1st quarter. Clear Street Markets LLC now owns 451 shares of the company’s stock valued at $28,000 after acquiring an additional 217 shares during the period. CVA Family Office LLC acquired a new position in shares of Evergy in the 4th quarter valued at $29,000. Pacific Center for Financial Services acquired a new position in shares of Evergy in the 1st quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Evergy in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EVRG. LADENBURG THALM/SH SH began coverage on shares of Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price on the stock. Citigroup began coverage on shares of Evergy in a report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 target price on the stock. Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. Wells Fargo & Company lowered their price objective on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Finally, Barclays lifted their price objective on shares of Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

Evergy Stock Performance

NYSE:EVRG opened at $51.76 on Friday. The firm has a market cap of $11.89 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.63 and a beta of 0.57. Evergy, Inc. has a 1-year low of $46.92 and a 1-year high of $63.84. The firm’s fifty day moving average price is $51.14 and its 200 day moving average price is $50.89. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29.

Evergy (NYSE:EVRG) last issued its earnings results on Thursday, February 29th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, sell-side analysts expect that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a dividend of $0.6425 per share. The ex-dividend date was Friday, March 8th. This represents a $2.57 annualized dividend and a dividend yield of 4.97%. Evergy’s payout ratio is currently 80.82%.

About Evergy

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.